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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  CNNC International Limited    2302   KYG2352X1262

CNNC INTERNATIONAL LIMITED

(2302)
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CNNC International : Profit alert

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03/12/2019 | 06:58am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CNNC INTERNATIONAL LIMITED 中核國際有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2302)

PROFIT ALERT

This announcement is made by CNNC International Limited (the "Company", together with its subsidiaries shall be referred to as the "Group") pursuant to Rule 13.09 (2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors (the "Board") of the Company is pleased to inform the shareholders of the Company (the "Shareholders") and potential investors that, based on a preliminary review on the unaudited consolidated management account for the year ended 31st December, 2018 (the "2018 Year") of the Group and information presently available to the Board, the Group is expected to record a significant increase in revenue generated from the business of trading of natural uranium, electronics and other products of the Group for the 2018 Year as compared to the revenue for the corresponding period in 2017 (the "2017 Year"). The Group is also expected to record a significant increase in net profit for the 2018 Year as compared to the 2017 Year primarily due to the write-back of a tax provision in the People's Republic of China which were provided in previous years and the increase in gross profit generated from the trading business of the Group in the 2018 Year.

The information contained in this announcement is only a preliminary assessment by the management of the Company based on the informationcurrently available to the Group, and is not based on any figures or information which has been audited or reviewed by the auditors. Shareholders and potential investors should refer to the announcement of the annual results of the Group for the 2018 Year which is expected to be released before the end of March 2019, and the subsequent publication of the Group's Annual Report 2018.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board CNNC International Limited

中核國際有限公司

Li Philip Sau Yan Company Secretary

Hong Kong, 12th March, 2019

As at the date of this announcement, the Board comprises non-executive director and chairman, namely Mr. Yang Chaodong, executive director and chief executive officer, namely Mr. Bai Donghai, non-executive director, namely, Mr. Li Zhihuang and independent non-executive directors, namely, Mr. Cheong Ying Chew Henry, Mr. Cui Liguo and Mr. Zhang Lei.

Disclaimer

CNNC International Ltd. published this content on 12 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 March 2019 11:57:01 UTC


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Financials
Sales 2019 3 170 M 409 M 409 M
Net income 2019 -219 M -28,3 M -28,3 M
Net Debt 2019 441 M 56,9 M 56,9 M
P/E ratio 2019 -6,69x
Yield 2019 -
Capitalization 978 M 126 M 126 M
EV / Sales 2018 0,59x
EV / Sales 2019 0,60x
Nbr of Employees 23
Free-Float 33,3%
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Income Statement Evolution
Managers
NameTitle
Yi Zhang Chief Executive Officer & Executive Director
Jie Zhong Non-Executive Chairman
Lei Zhang Independent Non-Executive Director
Li Guo Cui Independent Non-Executive Director
Yee Hoi Chan Independent Non-Executive Director
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